Amendment to Tres-Or and Arctic Star Joint Venture Agreement-Tres-Or Acquires Lapointe Kimberlite Pipe, Ontario
March 18 2008 - 12:21PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: TRS) and Arctic Star
Diamond Corp. ("Arctic Star") (TSX VENTURE: ADD) are pleased to
report that the parties have executed an Amendment to the December
2005 Joint Venture Agreement. Arctic Star has agreed to transfer
its interest in the Lapointe Kimberlite Pipe to Tres-Or in order to
maintain an undiluted interest in exploration outside of Lapointe
for additional diamondiferous kimberlites. Tres-Or assumes the full
costs of the exploration programs carried out at the Lapointe Pipe,
and has acquired a 100% interest in Lapointe subject to a 5.0% Net
Profits Interest granted to Arctic Star. Most importantly, this
exploration includes the recently collected 50 tonne sample for
macro-diamonds, which has yet to begin processing for diamonds.
Outside of the Lapointe Kimberlite, Arctic Star will continue
with a 40% interest in the Joint Venture exploration property
activities within a 10,700 square kilometer Area of Interest
surrounding the Lapointe discovery. Arctic Star continues to
participate in the exploration of the Joint Venture's properties
outside of Lapointe and to contribute it's pro rata portion of the
ongoing expenditures.
The Lapointe kimberlite pipe (+21 hectares in size) is located
about 80 km southeast of Timmins, Ontario. In February 2008,
Tres-Or successfully completed the recovery of a large sample of
more than 50 tonnes of kimberlite for macro-diamond processing (see
Tres-Or news release dated February 11, 2008). The large tonnage
sample was shipped to a secure storage facility pending engagement
of a DMS plant facility to process the kimberlite for macro-diamond
content.
Caustic fusion tests of almost 4 tonnes of the Lapointe
Kimberlite yielded 440 diamonds and have returned results
suggestive of a potentially coarse size distribution. Such hints of
a coarse distribution warrant further examination due to the large
size of the body (+21 hectares) and low mining costs in the area.
The primary goal of the 50 tonne test is to recover macro-diamonds
and confirm the coarse size distribution.
Tres-Or and Arctic Star are continuing exploration together in
the Joint Venture Area of Interest, including drill testing of
already identified priority geophysical targets, and intensive
indicator mineral sampling program near the Lapointe Kimberlite
itself.
Harrison Cookenboo, Ph.D., P.Geo., a Qualified Person by the
standards of National Instrument 43-101 has reviewed and approved
the contents of this news release. Dr. Cookenboo is responsible for
the design and implementation of the field programs.
ON BEHALF OF ON BEHALF OF
THE BOARD OF DIRECTORS OF THE BOARD OF DIRECTORS OF
TRES-OR RESOURCES LTD. ARCTIC STAR DIAMOND CORP.
Laura Lee Duffett, President Patrick Power, President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Tres-Or Resources Ltd. Laura Lee Duffett, P.Geo.
President (604) 541-8376 Tres-Or Resources Ltd. Brian Biles
Corporate (604) 688-8700 Email: info@tres-or.com Website:
www.tres-or.com Arctic Star Diamond Corp. Patrick Power President
(604) 689-1799 Email: info@arcticstardiamond.com Website:
www.arcticstardiamond.com
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